521 W Montgomery St | Milledgeville, GA 31061
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- LoopNet Team
521 W Montgomery St
Milledgeville, GA 31061
Campus Edge · Multifamily Property For Sale · 34 Units
Investment Highlights
- 7.1% Cap Rate with assumable non-recourse debt with Fannie at 4.17% that matures October 2027
- Under rented by over $181/ bed on their 2BR, $92/ bed on their 3BR and $126/ bed on their 4BR floor plans
- GCSU and GMC combine for 9,311 students
- 100% Occupied and 100% Pre-Leased for AY 24-25 with average rents at $708/ bed
- GCSU had their largest freshman class of 1,830 students which was a 17% increase from AY 22-23 bringing total enrollment to 6,811 students
- Adjacent to GCSU and 4 blocks from Downtown Milledgeville
PROPERTY FACTS
| No. Units | 34 | Lot Size | 1.42 AC |
| Property Type | Multifamily | Building Size | 45,228 SF |
| Property Subtype | Apartment | Average Occupancy | 97% |
| Apartment Style | Low Rise | No. Stories | 2 |
| Building Class | B | Year Built | 1980 |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 1.42 AC |
| Building Size | 45,228 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1980 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Granite Countertops
- Refrigerator
- Oven
- Vinyl Flooring
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $1,618 | 990 |
| 3+3 | 20 | $2,112 | 1,128 |
| 4+4 | 12 | $2,816 | 1,724 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,375,616 | |
| Land Assessment | $130,296 | Total Assessment | $1,505,912 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$130,296
Improvements Assessment
$1,375,616
Total Assessment
$1,505,912
zoning
| Zoning Code | R (residential multi-family) |
| R (residential multi-family) |
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